Poker and Bitcoin

Welcome back to the Tribe! In this post we are going to take a look at Poker and Bitcoin!

Nothing should be considered investment or financial advice. Enjoy the ride!

Poker And Bitcoin

Discussion over how Bitcoin can become more useful in day-to-day life tends to revolve around two things.

First, there is the world of retail, wherein major companies accepting Bitcoin make headlines on a semi-regular basis.

Second, there are Bitcoin debit cards, which have emerged in the last few years as simple options for those who want to put their cryptocurrency to practical use. And then of course there is always crypto adoption in new parts of the world to consider.

These factors are certainly responsible for the bulk of actual Bitcoin spending that we see in everyday life. What we don’t talk about as frequently, however, are more specific activities or industries with potential to boost Bitcoin usage. This is likely because there just aren’t too many examples that fit this description. Poker gaming, however, is one that is increasingly worth paying attention to.

There are in fact several simple indications that poker is going to play a role in making Bitcoin more useful — potentially to millions of crypto holders.

Bitcoin in Online Deposits

The most important factor in all of this is that Bitcoin is already becoming a common option for those funding accounts to play poker for real money online.

A significant part of winning in online poker revolves around managing one’s bankroll effectively. And it’s becoming clear that for purposes of security and efficiency, a lot of players prefer to conduct that bankroll management via crypto.

The concept of cryptocurrency deposits at online poker sites has been discussed for years — the assumption being that players would indeed appreciate a speedy, secure, and anonymous alternative to inputting credit card or personal information. More recently though we’ve actually seen a number of poker sites and apps adopting Bitcoin to turn the idea into a reality for countless players.

Original Bitcoin Poker Platforms

In addition to existing platforms embracing Bitcoin, we are also witnessing the birth of new sites and apps that are built on cryptocurrency and blockchain technology. Most of these are still relatively small in comparison to established poker sites, but they’re also contributing to the sense that Bitcoin is becoming a go-to option for internet poker deposits.

The Popularity of the Game

It’s a given that poker is an extremely popular game all around the world, and has been for as long as anyone can remember.

It is worthwhile to acknowledge, however, that the game’s popularity — particularly in online spaces — may actually be on the rise. In the earliest days of the pandemic in the western world, we saw reports of a record-breaking online poker tournament, generating an $18.6 million prize pool.

In the months that followed there were frequent headlines suggesting that online poker activity was surging.

Clearly this had a lot to do with people being isolated and unable to socialize or entertain themselves in person. However, some early indications suggest that the surge in online poker table is not subsiding. This means that the population of people who may be presented with the opportunity to game with Bitcoin has likely grown considerably.

The Brick-and-Mortar Option

This last point is less concrete. But we can at least speculate that as Bitcoin becomes more prominent in online gaming, and more commonly associated with poker in general, it might become a favored option in brick-and-mortar casinos also.

Many players would undoubtedly be intrigued by the idea of being able to deposit funds via mobile phones at physical poker tables, and receive chips to play with in return. We may not see this in major casinos for some time yet (if at all), but it certainly seems well within the realm of possibility.

Taking all of these factors into consideration, it’s clear that poker has potential to make Bitcoin more useful in everyday life. This may not get as much attention as major retailer Bitcoin acceptance or crypto debit cards, but it could ultimately expose millions of poker players to Bitcoin as a functional currency.

Poker and Bitcoin Post

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